Previously, the department was part of the company’s X Labs, but has now taken up the L spot in Google’s Alphabet. They will collaborate with other life sciences organizations to advance new technologies from the R&D stage to clinical testing and revolutionize...

Google chief executive officer Larry Page announced in a blog post Monday that he and co-founder Sergey Brin will head a new holding company called Alphabet, which will oversee the original Google company that includes its now-iconic search engine and its popular YouTube video service.

According to Page, Alphabet will be a collection of companies, one of which will still be named Google, albeit a more “slimmed down” version. He said Alphabet is “mostly a collection of companies”, the largest of which is Google.

Google is an original name. Google’s corporate motto is famously “don’t be evil”, although that hasn’t stopped the company from getting into strife with the European Union, which has been trying to break up Google for years, over its market...

Larry Page and Sergey Brin, who founded Google 18 years ago as students at Stanford University, will become chief executive and president of Alphabet respectively, while Sundar Pichai will head up Google.

Google’s new operating structure will emulate that of noted U.S. financier Warren Buffet, who owns dozens of companies through his Berkshire Hathaway holding company, all of which operate independently.